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Overall, it looks like we may see a fairly calm week in mortgage rates unless something unexpected happens or the stock markets make a big move upward or downward. I can’t really label one particular day as the most important one. If the stock markets remain fairly calm, I would guess the middle part of the week will probably be the most active for mortgage pricing. However, sizable gains or losses in the major stock indexes could influence bonds and mortgage rates more than this week’s economic data can.
If I were considering financing/refinancing a home, I would….
LOCK if my closing was taking place within 7 days…
LOCK if my closing was taking place between 8 and 20 days…
FLOAT if my closing was taking place between 21 and 60 days…
FlOAT if my closing was taking place over 60 days from now…
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